Daily Market Update

Daily Market Update

Daily Market Update Bonds sell-off leads to Wall St. losses; World markets mixed Tuesday
Monday saw a sell-off in the bonds market offering high yields to investors while equities were trading at lower volumes and the main indexes on Wall Street closed lower. Tuesday’s global trade is mixed so far. Asian markets closed mixed with Australia’s federal budget, corporate reports and Greek debt all on the minds of the region’s investors. Greek debt talks continue in Europe today and the region’s markets are generally lower so far Tuesday.

US stock futures are trending lower. Oil is trending higher (Brent $66.09, WTI $60.27 at 6am ET). Gold is trending higher.
 
Today’s data
NFIB small business optimism index at 9am ET
JOLTS at 10am ET
Treasury budget at 2pm ET
GoDaddy, Sotherly Hotels and Zillow Group are among the companies reporting earnings.
 
Banks could be about to plead guilty over forex manipulation claims
Five banks which have been the subject of investigations into alleged manipulation of the foreign exchange markets could be about to plead guilty reports Reuters. JP Morgan Chase, Citigroup, Royal Bank of Scotland, Barclays and UBS are expected to resolve the US Justice Department’s investigation this week. The move would be significant as it would be parent companies or major banking units pleading guilty rather than smaller subsidiaries.
 
Apple to team with Alibaba?
Apple could be about to team up with Alibaba to push Apple Pay into China. The market is an important one for Apple and it now sells more iPhones there than in the US. Teaming with Alibaba which operates its own payment system is seen as a key move which could ease the challenges that Apple faces if it tries to do it alone.
 
Self-driving cars involved in crashes
Four self-driving cars have been involved in accidents since last September. There are nearly 50 of the vehicles being tested on the California’s roads and figures given to Associated Press show that half of the accidents were when the cars were in control while the others were under driver control. However Google and Delphi say that the accidents were minor and that their cars were not at fault. Five other manufacturers reported to AP that none of their vehicles had been involved in crashes.